Common Traits of a Good Trader

KCalhoun said:
+ Verified and confirmed their trades and trades plans and "best" patterns have statically Edge(s) over the past historical XXX to X,XXX amount of trades. *Note*- Do not even read below until this step is completed. *Warning* - It may take X to XX years/months at this stage.
+ plans their trades, trades their plans
+ knows and practices smart risk mgmt
+ recognizes and trades best patterns
+ is rules-based with tested rules; always testing, improving
+ doesn't overtrade out of boredom just because the market's open
+ wires money/profits out of account regularly to pay yourself
+ does not waste profits on hookers & blow, lol. amps ok
+ openly shares lessons learned on ET :D
+ doesn't believe phony youtubers claiming $100k winning days (glad to see ftc/sec is busting bsers)
+ politely ignores skeptical friends/family members
+ NEVER GIVES UP
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KCalhoun,

Noone of that works without knowing the trades has statically edge first. I updated your list in red

 
Scataphagos said:
he good stuff is not "subjective". I will go so far to say it's, "100% FACT... always true" That's the part one should be building a trading strategy around. (Is your mind buzzing yet? :))
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Scataphagos,

You are right sir. I know longer claim to know anything in trading. Good to read your thoughts.

Yes my mind is buzzing. I like your confidence and I like PA and I continue to validate it.

My lesson of the day "The good stuff is not "subjective". I will go so far to say it's, "100% FACT... always true"
 
There are quite a fe
SimpleMeLike said:
Scataphagos,

You are right sir. I know longer claim to know anything in trading. Good to read your thoughts.

Yes my mind is buzzing. I like your confidence and I like PA and I continue to validate it.

My lesson of the day "The good stuff is not "subjective". I will go so far to say it's, "100% FACT... always true"
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There are a few market correlations that are 100% true. What you don't get to know is how far they will run and how long they will last. You have to play that "by ear".
 
Scataphagos said:
Speaking of "gut feeling" and/or "intution"....

I once heard a long time trader say about gut feelings... "When you think you're having one of those, get out of your chair, walk over to the door, and pound your head HARD against the jamb until the feeling goes away".

IOW... gut feeling and intuition have no place in trading. Speaking from personal experience, I have never had a "gut feeling" about a trade possibility.

FWIW...
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LMFAO HAHAHAHHAHAHAHAHAHHAHAHAHAHAHAHHA:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D

That is a very very good laugh you wrote. I love that.
 
You're idealizing a good trader too much. A good trader should:
- be able to think when writing your trading strategy;
- stop thinking when trading according to your trading strategy;
- be disciplined enough to implement the first two points.
And also very fast to press the buy / sell buttons on time.
 
A good trader will always work according to the trading plan and would stay away from overtrading in the market. I feel a good and successful trader is the one who learns from losses and then recovers them with good profits.
 
The ability to network and learn from others is often overlooked.

Be around people how have successfully been there, done that, and are still doing it.

Be around people who are better than you.

And remember that edges often end; Candy stores can close.
 
And he doesn't exist.
I do understand that people are obsessed with the idea of a perfect human being, but they don't exist in the reality. You could also add here the traits that he likes dogs and help the poor just like you added the traits about their car and seen as a good person. Your list can be reduced to two points: he likes learning and he is well organized. That's it. Other points that you have mentioned can be either included into self-organization (like being prepared or being focused) or excluded (like his car is well kept).
Everybody wants to be perfect and everybody fails in that. However, it doesn't mean that you should be a perfect person to be a good trader. No, you just need to have some discipline and curiosity in order to be a success.
 
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